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The IIB and Diasoft Announced Completion of the First BI Project in the Bank’s History

Tuesday, October 3, 2017

Diasoft, a global provider of cutting-edge solutions for the financial services industry, and the International Investment Bank (the IIB) announced that they have completed the first BI project in the history of the Bank. The project resulted in automation of the Bank’s managerial reporting based on a single data warehouse.

Automation of managerial reporting is not the first joint project of the two companies. Earlier this year, Diasoft and the IIB have successfully completed a large-scale project for implementation of FLEXTERA Framework in the Bank and automation of its IFRS reporting. Within the scope of that project, there was created a corporate data warehouse that accumulated information on all bank transactions from the accounting system. This allowed getting rid of using several data sources, which caused discrepancies between the same parameters in reports of different business units.

Successful cooperation of the IIB and Diasoft laid a foundation for further development of relationships of the two partners and resulted in implementation of a BI system for managerial reporting. The project teams had to enhance and enrich the existing data model in compliance with the Bank’s goals and to create reporting forms for analysis of the Bank’s business and for informational support of management decisions.

The key members of the project were representatives of the Bank’s Credit and Investment Department, Financial Department and Compliance Department. Each business unit had its own reporting goals.

Being the main user of the reporting system, the Financial Department deeply immersed into the project and demonstrated the highest increase of performance. Based on results of the internal testing, the department reduced the cost of data generation for managerial reporting by 90%. Today, the Bank’s team spends only1.5–2 hours to calculate the Bank’s KPIs instead of the whole business day that was required earlier. The Credit and Investment Department emphasized increased reliability of reporting data. This was achieved due to implementation of clear principles and use of information received immediately from the accounting system for generation of reports. Moreover, due to the project, the Bank’s management team obtained an important source of information on balance compliance risks, both taking into account remaining balances for a specific date and balance movements of specific business lines.

“Our next goal is automation of our financial forecasting and modelling”, commented Dmitry Bocharov, the IT Director at the International Investment Bank. “As of today, the bank has a high degree of automation of reporting on actual business results, but the planning is still mostly done manually. I assume that the next natural step in development of our BI systems will be enhancement of their forecasting capabilities, which will surely have an impact on the overall BI system”.

The International Investment Bank (the IIB)was established in 1970. The main business goal of the Bank is to contribute to the social and economic development, prosperity of population and economic cooperation between its member states. The main member states / shareholders of the Bank are currently represented by governments of Bulgaria, Hungary, Vietnam, Cuba, Mongolia, Russia, Romania, the Czech Republic and Slovakia. Starting from the end of 2012, the IIB has fundamentally reformed its business and received the following global ratings: BBB (stable outlook) from S&P Global Ratings, Baa1 (positive outlook) from Moody’s, BBB (stable outlook) from Fitch and A (stable outlook) from Dagong. The Bank focuses on support of small and medium-sized businesses of its member states and participation in financing of socially significant infrastructure projects. It provides loans primarily through the leading domestic publicly owned financial institutions, development Banks, export and import Banks and agencies, or lends in partnership with other international institutions for development.

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